Nov 22, 2009 2:30am EST
and india and the rest of east asia and these companies can be located in the united states, europe, japan. anywhere. you got to look at it company by company to try to latch on to some of this growth we're seeing coming out of asia. >> let me talk about the united states, the market has soared about 60% since march. really which was the bottom, of course. now hitting 13 month highs this week alone. do you think there's still room to go up? if i wanted to enter this market, put new capital to work right now is that worthwhile or have i missed. >> it's >> you haven't missed it at all. what people don't realize is how much the market pell in point terms and between october 9th of 2007 and march 9th of 2009 the s&p 500 fell by 888 points. we still regained less than half of those points lost. so there's still more money on the table than we've gotten back so far. so i know people would have liked to have gotten in hard. even if they didn't there's still opportunity for good gains in stocks in the united states over the next few years. >> what about the large sort of structural issues the u.s.
Nov 15, 2009 2:30am EST
billion or $40 billion of tax revenues and also bring in about $750 billion of cash into the united states. >> how do they do it? >> it's really simple. by what i would call enlightened taxation. right now foreign profits to bring back into the united states have you to pay a 35% tax on it. by implementing a reduced tax, the way it was done in 2004, all that -- all those foreign earnings will come streaming back into the united states. it's estimated to be $750 billion that's outside the united states. corporations don't have to bring it in, but they made -- when they bring it in, it's taxed. by reducing the tax, it encourages those profits to come back, and by doing that, that $750 billion will be spent here in the united states. right now multi-national corporations are cash rich off shore and are cash poor domestically, so when they have to build a research plant, a research facility, where do you think they're building? they build it where the cash is because they can't get it back here into the united states. >> to doubt you bring some of these issues up at the new york fed. you are d
Nov 8, 2009 3:35am EST
's a strength of the united states into actual production, and there was considerable talk about retro fitting buildings to safe a lot of energy and at the same time give many some jobs. >> everyone is looking at, you know, the economy traying trying to figure out where the jobs come from next. going into 2010 with cap and trade on the table and health care spending and most people expecting higher interest rates, do you think policies need to be changed in order to innocent vies companies to create these jobs? sdmri think in those three areas you talked about, and particularly the area of retro fitting, i mentioned that because that's an area where you might generate quite a few jobs among the kind of people that are not now employed, and it doesn't take any new technology. it doesn't take anything new and innovative. it takes the energy to get done more rapidly. what's already being done under the small scale. can it be done for rapidly? >> what is your sense so far right now? we have the gdp showing 3.5% growth. was that largely government spending, or do youthink this is sustainable? how d
Nov 29, 2009 7:30pm EST
no net job creation in united states between 1999 and 2009. we are looking at no job growth until 2018. getting people back to work is very important. if this is the opening salvo in that, this is -- >> what about creating jobs? what is this about save org creating jobs? >> as long as the economy grows, you get jobs back. the most important thing larry summers has said in the last five or six months is that that old law seems to have gone away. it doesn't seem like pure growth alone is going to be enough to create jobs. so that's why you've got to come up with some innovative solutions. >> where's the innovation, gentleman? where do you believe the growth is in this economy and in jobs? >> it's in innovation. it's in the ability to create whole industries like we have in the high-tech world in the last decade. for that, we need intellectual capital. for that, i might add, it would be very helpful if we didn't send half of our science graduates abroad because we won't let them work in this country. >> u.s. innovation isn't the creative destruction. i would call it nondestructive creatio